SmartSearch, a UK-based digital compliance and anti-money laundering (AML) software provider, has agreed to secure a significant equity investment from Triple Private Equity.

Through its commitment, Triple Private Equity will acquire a majority interest in the digital compliance and AML software provider.

Triple Private Equity will also work alongside the existing management to deliver on SmartSearch’s next stage of growth.

SmartSearch’s founders and existing shareholders will maintain a minority stake in the firm.

Triple Private Equity managing and founding partner and investments head Mads Hansen said: “SmartSearch is a market leader in GRC in the UK, a key investment space for Triple.

“The company has shown consistent growth and profitability and provides a high-quality software platform for its clients. We look forward to partnering with the SmartSearch team to pursue the Company’s next stage of growth.”

Established in 2011, SmartSearch helps companies to navigate through raising regulatory demands including AML compliance, customer due diligence, know your customer (KYC), and know your business (KYB) procedures.

The firm is said to have over 60,000 users in various ranges of regulated markets including accountancy, legal, property and financial services.

SmartSearch’s customer base includes more than 1,000 property firms, said the company.

Triple Private Equity’s investment will allow the digital compliance and AML software provider to build on the foundation of innovation and solid business leadership.

SmartSearch CEO Guy Harrison said: “Triple are an excellent match for SmartSearch in its ambitious next phase of growth. The business is especially looking forward to calling on their deep expertise in scaling mission critical, B2B risk and compliance software.”

SmartSearch was advised on the transaction by Rothschild, Squire Patton Boggs, KPMG in the provisions of corporate finance, legal, and finance and tax, respectively.